Seizert Capital Partners LLC increased its holdings in Regal Beloit Corp (NYSE:RBC) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,821 shares of the industrial products company’s stock after buying an additional 3,082 shares during the period. Seizert Capital Partners LLC owned about 0.10% of Regal Beloit worth $3,214,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in RBC. Bank of Montreal Can boosted its position in shares of Regal Beloit by 14.8% in the 4th quarter. Bank of Montreal Can now owns 250,954 shares of the industrial products company’s stock worth $19,223,000 after buying an additional 32,266 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Regal Beloit by 6.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 297,993 shares of the industrial products company’s stock worth $22,827,000 after buying an additional 18,088 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Regal Beloit in the 4th quarter worth about $199,000. Regentatlantic Capital LLC purchased a new stake in shares of Regal Beloit in the 4th quarter worth about $241,000. Finally, Fisher Asset Management LLC boosted its position in shares of Regal Beloit by 9.8% in the 4th quarter. Fisher Asset Management LLC now owns 705,483 shares of the industrial products company’s stock worth $54,040,000 after buying an additional 63,157 shares in the last quarter. Institutional investors and hedge funds own 94.15% of the company’s stock.
RBC has been the topic of several recent research reports. Zacks Investment Research lowered shares of Regal Beloit from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. ValuEngine lowered shares of Regal Beloit from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Barrington Research restated an “outperform” rating and issued a $87.00 target price on shares of Regal Beloit in a report on Monday, February 12th. Barclays started coverage on shares of Regal Beloit in a report on Thursday, February 15th. They issued an “equal weight” rating and a $80.00 target price on the stock. Finally, Seaport Global Securities upgraded shares of Regal Beloit from a “neutral” rating to a “buy” rating and upped their target price for the company from $82.00 to $88.00 in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $85.91.
Shares of Regal Beloit opened at $80.55 on Friday, Marketbeat reports. The stock has a market cap of $3.52 billion, a PE ratio of 15.58, a P/E/G ratio of 1.36 and a beta of 1.39. Regal Beloit Corp has a 1-year low of $67.84 and a 1-year high of $87.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.27 and a current ratio of 2.36.
Regal Beloit (NYSE:RBC) last announced its quarterly earnings data on Monday, May 7th. The industrial products company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.09. The business had revenue of $878.80 million for the quarter, compared to analyst estimates of $869.33 million. Regal Beloit had a net margin of 6.57% and a return on equity of 9.87%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. analysts forecast that Regal Beloit Corp will post 5.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.28 per share. This is a positive change from Regal Beloit’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, June 28th. Regal Beloit’s dividend payout ratio is presently 21.36%.
About Regal Beloit
Regal Beloit Corporation, together with its subsidiaries, designs, manufactures, and sells electric motors, electrical motion controls, and power generation and power transmission products worldwide. It operates through three segments: Commercial and Industrial Systems, Climate Solutions, and Power Transmission Solutions.
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